Personal Loan Calculator
$0.00 / month
Typical Personal Loan Rates by Credit Tier
Personal loan APRs vary enormously based on your credit score. As a general guide:
| Credit Score | Typical APR Range |
|---|---|
| Excellent (720+) | ~7% - 12% |
| Good (690-719) | ~13% - 17% |
| Fair (630-689) | ~18% - 25% |
| Poor (below 630) | ~26% - 36% |
If a quoted rate is far above your tier's typical range, it's worth shopping other lenders before accepting.
Secured vs Unsecured Personal Loans
Most personal loans are unsecured, meaning no collateral backs the loan — which is part of why rates run higher than secured loans like auto loans or mortgages. Some lenders offer secured personal loans against savings or other assets at a lower rate.
Watch for Origination Fees
Some personal loan lenders deduct an origination fee from your loan proceeds. If yours does, the business loan calculator shows how to factor a fee into your true borrowing cost.
Frequently Asked Questions
Are personal loans secured or unsecured?
Most personal loans are unsecured, meaning no collateral backs them, which is part of why rates are typically higher than secured loans.
What if my quoted rate seems too high?
Compare it to the typical range for your credit tier shown above — if it is well above that range, shop additional lenders before accepting.